Title Loans in Coeur d’Alene, Idaho
Not everyone can handle financial pressure. It can cause a lot of stress and frustration for many Americans. Some people will remain in their financial situation without looking for help. Some people will first go to family members and friends for help, even if they are sure that no financial assistance will be available. Don’t be like those people if you are experiencing financial trouble. Use the resources that you have and turn it into cash. It will give you that sense of independence and confidence when you don’t have to turn to family and friends. A title loan could be the answer to your financial issues. Turn your attention now to the title loan lender and obtain the funding you need.
The City of Coeur d’Alene
The city of Coeur d’Alene is located in Kootenai County in the state of Idaho. This city is the county seat and main metropolitan location. The United States Census Department made a report in the year 2010 that the population was 44,137. The city has seen much growth in the recent years and that is partly as a result of increased tourism to the area resorts. In fact, television personnel, Barbara Walters has been known to call it the “little slice of Heaven.” She went as far as to include the city on her list of charming places that everyone should visit. The city got its name from the “Coeur d’Alene People,” which is a Native American tribe who resided in the area in the past. Learn more about the city by visiting its official website.
Title Loan Laws
The Part 5 Title Loan Act is the legislature that governs the title industry. The law mandates that lenders should maintain a record of all contract agreements initiated for a title loan. The record should include pertinent information such as:
- Make, model and year of vehicle
- VIN number and possibly license plate number
- Name, date of birth and address of borrower
- Date of contract agreement
- The loan’s maturity date
The vehicle in a title loan transaction is the security interest and collateral. The lender uses this as a means of reducing their risks of loaning money. The lender uses the vehicle to assess how much the loan amount will be for the borrower. The lender uses Kelley Blue Book portal to do the assessment of the fair market value of the vehicle. Upon determining that value, the lender will give the borrower a percentage of that amount – usually 25 to 50 percent.
If a loan transaction made to a conventional lender has been declined, you do have options. Obtaining a title loan in Idaho is easier than dealing with a conventional lender. Other benefits of getting that title loan would include:
- Smaller loan amounts that will be more management
- No credit check
- High approval rates
What You Need to Apply?
To be qualified for a title loan, you have to fully own the vehicle and have no liens associated with said vehicle. If you have the certificate of title with your name on it, this is the proof needed to move forward with your title loan. You also will need to prove that you are 18 years or older. You can do this by providing a copy of your driver’s license or valid ID card. Proof of income is also necessary, but the lender will accept any of the following:
- Retirement income
- Disability benefits
- Tax returns
- Unemployment benefits
- Social security benefits
- Worker’s compensation
After you receive an approval, you are allowed to still drive the vehicle. After your application submission is reviewed, documents are collected and then the approval process begins. Within 24 hours, you could have the money in your bank account. So, don’t procrastinate. Put in your loan application today.